Section 88
Classification Of Claims
(1) The claims accepted, accepted partially or rejected pursuant to Section 87 shall by a Liquidator be recorded separately segregating them under different headings.
(2) The claims accepted in part pursuant to Sub-Section (1) shall be included in the accepted list to the extent of acceptance and the rest of the claims shall be included in the list of rejected claims.
(3) While preparing a list of claims, the name and address of the claimant, place, date and amount of payment and details as to whether or not any collateral for securing the claim shall be clearly stated.
(4) If there is a dispute as to a claim, such a claim shall be stated in the list of disputed claims until its decision is made.
(5) A Liquidator shall enlist the approved claims and the claims having no value in the list as he/she has fixed.
(6) The claims of the secured creditors shall be separately classified.
(7) The approved claims shall be listed in such manner as to be placed it on the priority list in the payment process.